Is Norfolk, VA 23502 a buyer’s or seller’s market?

Seller’s market 3 months ending August 31, 2026 · Source: Redfin

Norfolk is a seller’s market. With about 2 months of supply and 33% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.

Competition score75/ 100

More competitive than 79% of U.S. ZIP codes, and #64 of 358 in the state.

Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown

Months of supply2Under 4 months = seller’s market

Sold above original list33.3%Share of sales, last 3 months

Median sale-to-list100%Sold price ÷ list price

Median days on market22Listing to accepted offer

Median price per sq ft$209▲ +4.2% vs. last year

Run the numbers for 23502

Prefilled for 23502Can I win this house?Multiple-offer likelihood for a listing Prefilled for 23502Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Norfolk 23503Seller’s market $223 /sq ft Norfolk 23504Seller’s market $182 /sq ft Norfolk 23505Seller’s market $221 /sq ft Norfolk 23507Seller’s market $223 /sq ft Browse all markets →

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More tools for 23502

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology